I recently got to know another local flipper and he informed me of a private lender he works with that covers 100% of the acquistion cost and charges 1.5 points and 13.5% (no rehab cost covered).

Would love advice on getting a used uint to save on costs. - Thanks!

Otherwise, you'll be subject to the experiences & opinions of those either trying to help you (yet their ignorance may cost you) or take advantage of you.PM us if you'd like to discuss more:)

The following is from Stessa in regards to your situation:"The cost basis used for depreciation in this situation is the purchase price of the home plus certain closing costs, plus qualified capital improvements (such as a new roof or other renovations).

I do drop down significantly, but I factor in what it would cost to run my place on a day-to-day basis and make sure not to go lower than that.

Not sure how that would work as a 1031 exchange means you are selling one property and exchanging it for another so the 1031 works for the 2nd and subsequent properties but not for the "first".I realize you are learning so just wanted to point that out in a friendly way.

Not having an exit strategy on two different partnership ventures led me into a court case and cost me tens of thousands of dollars on another.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Usually, borrowers purchase the lot first and we usually lend to 80% of cost up to 70% of the as-completed value.

Hello,We have a STR in Davenport, FL area and looking for some recommendations for Cost segregation study companies.